Carlyle Group raised US$1.8 billion for a takeover fund in Asia, the Washington-based private equity firm said in a statement to media organizations yesterday.
The company has now raised US$4.8 billion for investments in the region in the past year, including its second Japan fund, announced this month.
The money raised in the past year "shows the tremendous on-going demand for private equity investing across the region," Rubenstein said in the statement.
Asia's private equity and venture capital funds under management grew by 25 percent during the first half from a year earlier, reaching US$138.5 billion, the Hong Kong-based Asian Venture Capital Journal said last week. Investors are sinking funds into the region to tap economic growth expected to outperform the rest of the world.
Asian economies excluding Japan will expand 7.9 percent this year, compared with a forecast for global growth of 4.9 percent, the IMF predicted in April.
Carlyle, which opened its Asian headquarters in Hong Kong in 1998, has invested in 10 companies in the region in industries including financial services, media, telecommunications and manufacturing, the statement said. The new fund, Carlyle Asia Partners II, will operate in Australia, Greater China, India, Korea and Southeast Asia, it said.
Private equity and venture capital funds made US$25.2 billion of new investments in Asia in the first six months, a 285 percent increase over the same period last year, while private equity-backed initial share offerings raised a record US$14.4 billion Asian Venture Capital Journal said.
Buy-out firms, including Blackstone Group LP and Kohlberg Kravis Roberts & Co, are looking to invest more money in the region, particularly in China and India. Blackstone last week announced its first India investment, putting US$50 million into Emcure Pharmaceuticals Ltd.
China led the region with US$5 billion in new investments, an increase of 523 percent. New investment in India increased by 400 percent, reaching US$3.6 billion, the journal said.
Temasek Holdings' US$3.63 billion buy-out of Thailand's Shin Corp was the biggest transaction. Other billion-dollar deals included CVC Asia Pacific Ltd and Nomura Principal Finance Co's acquisition of Japan's Skylark Co and KKR's buy-out of the Australian interests of Brambles Industries Ltd.
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